TORTOLA, British Virgin Islands, Oct. 1, 2024
/CNW/ - Kingsferry Capital Management Group Limited
("Kingsferry") announces that it has acquired, on behalf of
Kingsferry Classic Value Fund I Ltd., 20,000 common shares
("Common Shares") of Payfare Inc. ("Payfare"), which
were purchased through the facilities of the Toronto Stock
Exchange. As a result, Kingsferry exercises control and
direction over 4,806,756 Common Shares, which represents
approximately 10.02% of the issued and outstanding Common Shares.
On October 1, 2024, the Common Shares
were purchased at an average price of C$1.99 per Common Share,
for a total purchase price of C$39,800.
Immediately prior to the acquisition of the Common Shares
described above, Kingsferry had control and direction over a total
of 4,786,756 Common Shares, representing approximately 9.98% of the
issued and outstanding Common Shares.
Kingsferry believes that the Common Shares are undervalued and
are an attractive investment. Kingsferry remains committed in its
support of the management and the board of Payfare as they continue
their diligent work to enhance Payfare's long-term prospects.
Kingsferry expects to monitor the business, prospects, and
financial condition of Payfare, and depending on its evaluation of
these and other factors, Kingsferry may from time to time in the
future increase or decrease its direct or indirect ownership,
control or direction over Common Shares or other securities of
Payfare through market transactions, private agreements,
subscriptions from treasury or otherwise.
Payfare's head office address is 550 Burrard St #2300,
Vancouver, BC V6C 2B5.
For further information, including a copy of the corresponding
report filed with Canadian securities regulators, please visit
www.sedar.com
SOURCE Kingsferry Capital Management Group Limited